Implementing Business Continuity at Shirazi Investments based on BS 25999
Shirazi Investments (Pvt.) Limited, the parent Company of the Atlas Group Pakistan, was established in 1962. For over four decades, the company has been engaged in equity trading, underwriting, real estate and general trading. The company plays a key role in sponsoring and acquisition of many group companies.
Realizing the importance and need of Business Continuity Planning, and being the role model for other group companies, the organization took the initiative for implementing Business Continuity Management.
Business Beam started the assignment by identifying all the processes in the organization and conducting detailed Business Impact Analysis (BIA). To ensure realistic results from BIA, our advisors conducted training and mentoring sessions for the process owners. With the help of BIA results, our advisors identified processes and resources which were critical to the continuation of its business. They also determined the time the organization can survive if the critical processes and resources failed.
Following BIA, Business Beam performed risk assessment and helped the organization in identifying and prioritizing risks. Based on the risk assessment and the critical processes, our advisors proposed continuity strategies and recommended various solutions against future disastrous situations. After finalizing the strategies and continuity response with the stakeholders, our advisors developed a Business Continuity Plan, and established the Crisis Management Team to derive real business value.
To ensure validity of the BCP, and to improve employee awareness, our advisors also successfully conducted a table-top BCP exercise.
Implementing Business Continuity Management System in an organization is more of a cultural challenge. In case of Shirazi Investments, the management and the employees have now realized the importance and the need for Business Continuity in their rapidly changing environment.
The organization has also identified its critical processes and developed recovery strategies. Business Continuity Plan has been developed and tested. The organization is now properly equipped to properly and successfully handle any continuity related challenge.